Insurers Tap Blackstone, Houlihan for Puerto Rico Restructuring

Reuters reported MBIA is working with The Blackstone Group, according to two sources with knowledge of the matter, and Assured Guaranty hired professionals from Houlihan Lokey, Assured’s spokeswoman, Ashweeta Durani, confirmed.

According to Reuters , the hirings signal Puerto Rico’s debt crisis appears to be moving toward a restructuring, even as some bondholders have challenged the constitutionality of a law that would allow certain of the commonwealth’s public agencies to refinance their debt.